Fashion and Finance London: Blue-blooded broker Guy Winterflood follows latest fashion October 23, 2015 If you want to see the best, and worst, dressed people in the City making awkward chit chat and swapping personal phone numbers tonight, be sure to head to Fashion and Finance – a “networking” event devoted entirely to the singletons of London’s fashion and business worlds. Social Concierge, the City-focused matchmaking service behind the [...]
Financial Conduct Authority boss Tracey McDermott assures City firms on future regulation October 22, 2015 The head of the UK’s financial watchdog tried to reassure City firms last night that the thousands of pages of regulation that have been heaped on them since the financial crisis would not be added to substantially over the coming years. At an annual London dinner of regulators and finance workers tonight, Tracey McDermott, acting chief [...]
Microsoft share price jumps as cloud revenues take the edge of profit decline October 22, 2015 Microsoft shares rose six per cent in after-hours trading as profits positive performance in its cloud computing sales offset declining sales elsewhere. Microsoft reported $20.4bn (£13.2bn) in revenue in the three months to September, down 12.1 per cent from $23.2bn in the same period last year. Earnings per share came in at $0.58 from last years [...]
Amazon posts jump in profits as cloud sales grow 70 per cent October 22, 2015 Profits at online retailer Amazon jumped in the three months to September, the company has announced today. Amazon posted net income of $79m (£51m), or $0.17 per share in the three months September, compared to a net loss of $437m, or 0.95 cents a share, in the same period last year. Net sales were reported to be [...]
Industry groups split over new report from CMA on retail banking sector October 22, 2015 Multiple industry groups have hit out at the Competition and Markets Authority (CMA)’s provisional recommendations for the retail banking sector, saying “more needs to be done”. British Chambers of Commerce (BCC) director general John Longworth said businesses will be “disappointed” with the CMA’s proposals, accusing the competition watchdog of “effectively endorsing a status quo that [...]
UK house prices: Deutsche Bank calls time on London prime property party October 22, 2015 Analysts at Deutsche Bank have called time on London’s prime property “party” in a scathing note that warns the boom of the past 30 years is a thing of the past. In the latest edition of its Konzeptmagazine, released yesterday, Deutsche Bank’s Sahil Mahtani argues that a looming interest rate hike, the Bank of England’s [...]
City Moves for 23 October 2015 | Who’s switching jobs October 22, 2015 SQUIRE PATTON BOGGS The law firm has appointed Dale Huxford as of counsel in its corporate practice in London. He joins from BroadTech Global. Huxford was also formerly a member of the emerging companies group at Orrick in London, where he provided legal services to early and growthstage technology companies. STRAWBERRY STAR The property company [...]
S&P 500 hits two month high – New York Report October 22, 2015 Stronger-than-expected earnings from several top companies relieved investors’ concerns yesterday about the profit outlook, pushing the S&P 500 to its highest level in two months. The Dow Jones industrial average rose 320.55 points, or 1.87 per cent, to 17,489.16, the S&P 500 gained 33.57 points, or 1.66 per cent, to 2,052.51 and the Nasdaq Composite [...]
Eurozone bond yields sink to four-month lows on dovish Draghi comments October 22, 2015 Government borrowing costs dropped across the Eurozone and the euro tumbled today as European Central Bank (ECB) boss Mario Draghi gave his biggest hint yet that the bank would take further steps to boost the lacklustre economy. The euro tanked – it could buy 73.4p this morning but has dropped nearly two per cent to a value of 72.2p. [...]